The Massachusetts Office for Refugees and Immigrants last week launched the Financial Literacy for Newcomers Program, which will develop and deliver diverse financial education tools and resources to approximately 1,000 immigrants and refugees over the next three years.

“Our administration is committed to creating opportunities for all of our citizens in every corner of the commonwealth to drive economic growth and success,” Gov. Charlie Baker said in a statement. “This program, paired with the unique cultures, traditions and perspectives of Massachusetts’ newcomer community, will add meaningful value to our goal to make Massachusetts the best place to live, work and raise a family.”

The program targets the unique obstacles immigrants and refugees often face while striving towards financial stability, including language comprehension, awareness of new financial customs and navigating the complexities of the American banking system. ORI will partner with organizations that serve refugee and immigrant populations to collaboratively implement the program across the state.

“Massachusetts is a global community with 15.5 percent of our population being foreign born,” Marylou Sudders, health and human services secretary, said in a statement. “Empowering newcomers with the financial knowledge they need to succeed not only greatly benefits these individuals and their families, but the commonwealth as a whole.”

Participants will undergo a 15-hour course focusing on household budgeting, credit building, debt management and investment opportunities. In addition to this basic personal finance curriculum, supplemental courses will target rental and home buying, car buying and leasing options, tax credits and filing, retirement and insurance plans and an overview of higher education financing. Courses will be delivered collaboratively by a skilled financial professional and interpreter.

The three-year program is funded through a $250,000 donation from the Generation Fund, $25,000 from Eastern Bank and $1,000 from Dunkin’ Donuts to support statewide implementation. A $5,000 donation from People’s United Bank will also enable project implementation in the Central Massachusetts region.

“Providing access to accurate and timely financial information to refugees and immigrants soon after their arrival helps shape their financial future and strengthens our communities as a whole,” Mary Truong, executive director of the office for refugees and immigrants, said in a statement. “With the generous support of our funders, our initiative bridges the gap between the private and public sectors to successfully foster the integration of newcomer populations in Massachusetts.”